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Tag Archives: pension

Congress Passes Two-Year Budget Deal to Avoid Sequestration

The bipartisan deal to alleviate sequestration-related cuts in the next two fiscal years has been sent to the White House for President Barack Obama’s signature, Reuters reported Wednesday. David Lawder and Richard Cowan write the House approved the budget agreement last week by a wide margin and the Senate cleared …

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VA Trims Disability Claims Backlog by 74K; Bernie Sanders Comments

The Veterans Affairs Department has reduced the number of backlogged disability claims by 74,000 since it began the verification process in March, Nextgov.com reported Wednesday. Bob Brewin writes Thomas Murphy, director of VA’s compensation and pension service, told a Senate Veterans Affairs Committee hearing the automated veterans benefits management system …

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OPM Unveils New Regulations for Phased Retirements

The Office of Personnel Management has started implementing guidelines for a phased retirement option, where eligible federal employees work 20 hours per week and receive pension benefits, GovExec reported Tuesday. Eric Katz writes the agency will determine the eligibility, payment and benefits related to the retirement option passed into law …

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Postal Service IG: Agency Overfunded FERS Program by $11B

A Postal Service inspector general analysis has recommended the Office of Personnel Management calculate the USPS’ obligations to the federal employees retirement system differently next time, Federal Times reports. According to Sean Reilly’s report, OPM calculated FERS funding under the assumption that the governmentwide salary growth was 4.11 percent between …

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IG Report: Postal Service Overfunded Fed Pension $13B

The Postal Service has given $13.1 billion too much into a federal pension fund during fiscal year 2011, the Washington Post reports. A recent inspector general report suggested the agency get a refund, but the Office of Personnel Management is not allowed to make such a payment, according to Timothy R. …

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